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EVs Present Investment Opportunities in Utility Grid Infrastructure

Auto News - Published on Wed, 04 Dec 2019

Image Source: EV Charging
Frost & Sullivan said that with greater vehicle electrification and the rise of disruptive technologies such as vehicle to grid and peer to peer blockchain trading, utilities are expected to employ smart charging and demand response programs to cope with the growing demand for energy. Cumulative electric vehicle sales are set to increase to 34 million in 2025, 121.2 million in 2030, and 636.7 million by 2040, driving the cumulative power demand from 11,612.6 TWh in 2018 to 19,756.8 TWh in 2040.

Frost & Sullivan Research Analyst for Energy & Environment Mr Vasanth Krishnan said “Utilities will play a bigger role in the transportation electrification revolution with offerings such as EV-specific dynamic pricing, integration with decentralized storage units, vehicle to anything and workplace charging incentives. Collaborative efforts between various stakeholders in the automotive and energy value chain are critical for utilities to offer competitive bundled services and products.”

Frost & Sullivan’s recent analysis, Impact of Electric Vehicles on Power Demand, Forecast to 2040, A Perspective on Key Global Growth Markets, provides a holistic overview of EV penetration and its potential impact on energy demand. It analyzes its effect on stakeholders such as EV manufacturers, battery suppliers, power utilities and infrastructure, EV end users, regulators and external actors, and EV aggregators. It also presents recommendations on the strategies for energy service providers and the action plan for utilities. The study covers the geographical markets of the US, Europe, the UK, Germany, China, and Japan.

For further information on this analysis, please visit: http://frost.ly/3w2

Source :

Posted By : Arun Huidrom on Wed, 04 Dec 2019
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